Category: Corporate

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Corporate

Reliance advances Jio IPO with 27 cr shares

Jio Platforms has taken a significant step towards its long-awaited stock market debut after Reliance Industries secured shareholder approval to issue up to 27 crore fresh equity shares.

The proposal was cleared at Reliance Industries’ 49th Annual General Meeting (AGM), marking an important milestone in the process of preparing Jio Platforms for a public listing. Although the company has not announced a specific timeline for the IPO, the move indicates that groundwork for the offering is progressing steadily.

Under the approved plan, Jio Platforms can raise capital through a fresh issue of up to 27 crore equity shares. The funds generated are expected to support the company’s future growth initiatives while allowing public investors to become part of one of India’s largest digital businesses.

Jio Platforms, which includes telecom operator Reliance Jio and several digital ventures, has become a key growth engine for Reliance Industries. Since its launch, Jio has reshaped India’s telecom sector by offering affordable data services and expanding digital connectivity across the country.

The proposed IPO has generated considerable interest among investors, with many viewing it as a landmark event for India’s financial markets. Given Jio Platforms’ vast subscriber base, strong digital presence and expanding technology ecosystem, analysts expect the offering to attract significant attention.

The listing would help Reliance Industries unlock value from its fast-growing digital business. Over the years, Jio Platforms has attracted investments from several global technology companies and private equity firms, reflecting strong confidence in its business model and future prospects.

Market participants are now waiting for further details, including the company’s valuation, issue size and expected listing schedule. These details are likely to emerge once regulatory filings are submitted and the IPO process moves into its next phase.

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Sensex slumps over 600 points, Nifty holds 24,000 mark

Indian equity markets ended sharply lower on Friday, snapping a five-session winning streak. The BSE Sensex fell 607 points, or 0.74%, to close at 81,691.98, while the NSE Nifty 50 declined to settle at 24,888.20.

The sell-off was triggered largely by weakness in IT stocks after global technology services firm Accenture issued a softer-than-expected business outlook. Investors worried that slower global technology spending could affect revenue growth for Indian IT companies.

Among the biggest losers on the Sensex were Infosys, which dropped over 7%, followed by HCLTech, Tech Mahindra and Tata Consultancy Services (TCS), all of which witnessed significant declines. The Nifty IT index emerged as the worst-performing sectoral index of the day, recording one of its steepest falls in recent months.

Banking and energy heavyweights also weighed on the market. Shares of HDFC Bank and Reliance Industries ended lower, adding to the pressure on benchmark indices. Weak global cues and cautious investor sentiment further contributed to the decline.

However, not all stocks ended in the red. Defensive and consumer-focused counters attracted buying interest. Hindustan Unilever, Nestle India, Asian Paints and Titan were among the notable gainers, helping limit the overall market losses. Select pharmaceutical stocks also witnessed buying as investors shifted towards relatively safer sectors.

Also Read: Reliance AGM begins today, investors eye key updates

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Reliance AGM begins today, investors eye key updates

All eyes are on Reliance Industries Ltd (RIL) as Chairman Mukesh Ambani addresses shareholders at the company’s 49th Annual General Meeting (AGM) on Friday. The virtual event, scheduled to begin at 2 pm, is expected to provide important updates on Reliance’s business strategy, growth plans and future investments.

The AGM is one of the most closely watched corporate events in India, attracting attention from investors, analysts and industry observers. Shareholders are particularly keen to hear updates on Reliance’s telecom, retail, energy and digital businesses, which remain key drivers of the conglomerate’s growth.

Market participants are also looking for clarity on the company’s new energy initiatives. Reliance has made significant investments in renewable energy, green hydrogen and clean technology projects in recent years. Investors will be watching closely for timelines, expansion plans and progress on these ventures.

Another area of focus is Reliance Jio, which continues to play a central role in the group’s digital ambitions. Updates on subscriber growth, technology deployment, artificial intelligence initiatives and digital services are expected to feature prominently in Ambani’s address.

Reliance Retail is also likely to be in the spotlight. The business has expanded rapidly across both physical and digital channels, and shareholders are expected to seek insights into future growth opportunities and consumer demand trends.

The AGM comes at a time when Reliance continues to strengthen its position across multiple sectors. The company has been pursuing a strategy of diversification, investing heavily in technology, consumer businesses and sustainable energy while maintaining its leadership in traditional energy operations.

For many shareholders, the annual meeting serves as a key indicator of the company’s future direction. Ambani’s speeches have often included major announcements, business milestones and long-term visions that shape investor expectations.

While no major announcements have been officially confirmed ahead of the meeting, market experts expect the chairman to provide a detailed roadmap for the group’s next phase of growth.

With Reliance playing a pivotal role in India’s corporate landscape, investors will be closely tracking the AGM for signals on business expansion, innovation and value creation in the years ahead.

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L’Oréal buys majority stake in Innovist

French beauty giant L’Oréal has signed an agreement to acquire a majority stake in Indian beauty and personal care company Innovist, strengthening its presence in one of the world’s fastest-growing consumer markets.

Founded in 2018, Innovist has built a strong reputation in the premium beauty segment through science-backed and digital-first brands such as Bare Anatomy, Chemist at Play, SunScoop and Inveda. The company has gained popularity among young consumers by offering skincare, haircare and personal care products tailored to Indian needs.

The acquisition reflects L’Oréal’s growing confidence in India’s beauty and personal care market, which continues to attract global investors amid rising consumer spending and demand for specialised products. Financial details of the deal have not been disclosed.

For Innovist, the partnership marks a major milestone. What started as a home-grown startup has grown into a recognised player in India’s competitive beauty industry. With access to L’Oréal’s global expertise, research capabilities and distribution network, Innovist is expected to accelerate product innovation and expand its reach in India and overseas markets.

L’Oréal already has a strong presence in India across skincare, haircare and cosmetics. The company views the country as a key growth market, supported by a young population, rising incomes and increasing digital adoption.

Industry experts say the deal highlights the growing appeal of Indian beauty startups to multinational companies. Instead of building brands from scratch, global firms are increasingly investing in local businesses that have already earned consumer trust and established a strong market presence.

The acquisition also reflects the rising popularity of science-led beauty brands in India. As consumers become more aware of ingredients and product performance, companies like Innovist have carved out a niche in the premium personal care segment.

With L’Oréal taking a controlling stake, Innovist is set for its next phase of growth, while India’s beauty startup ecosystem receives another strong vote of confidence from a global industry leader.

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Sensex slides 750 points, Nifty below 24,000

Indian benchmark equity indices ended sharply lower on Friday despite supportive global cues from easing crude oil prices and reduced geopolitical tensions. The BSE Sensex plunged more than 750 points during the session before settling 729 points lower at 76,688.63, while the NSE Nifty50 declined 198 points to close at 23,970.60, slipping below the psychologically important 24,000 mark.

The biggest pressure on the market came from the IT sector. Investors turned cautious after global technology services company Accenture issued a weaker-than-expected business outlook, raising concerns about future demand for software and technology services. Shares of major Indian IT firms, including Infosys, TCS and HCLTech, emerged among the top losers of the day as investors rushed to cut exposure to the sector.

Other notable laggards included Tech Mahindra, Wipro and HDFC Bank, which also witnessed selling pressure. The weakness in technology stocks dragged the Nifty IT index to its lowest level in nearly three years.

Market experts said worries over reduced technology spending by overseas clients prompted investors to book profits in IT stocks after recent gains. The weakness in the sector overshadowed support from favourable global developments.

Meanwhile, crude oil prices continued to decline amid reports of a possible peace agreement between the United States and Iran and the resumption of shipping activity through the Strait of Hormuz. Lower oil prices are generally beneficial for India, one of the world’s largest crude importers, as they help ease inflationary pressures and reduce import costs.

Despite the broader weakness, a few heavyweight stocks helped limit losses. Reliance Industries and Bharti Airtel were among the top gainers, supported by positive investor sentiment and expectations of business growth. Reliance attracted buying interest ahead of its annual general meeting, where investors are expecting key announcements related to telecom, artificial intelligence and data centre businesses.

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Sensex gains 250 points, Nifty tops 24,150

Indian equity markets ended Thursday’s session on a positive note, overcoming early volatility to extend their winning streak for a fifth consecutive day. Investor sentiment remained supported by falling crude oil prices and optimism surrounding global developments, even as concerns over the US Federal Reserve’s hawkish stance weighed on technology stocks.

The BSE Sensex closed 254 points higher at 77,409.98, while the NSE Nifty50 settled above the crucial 24,150 mark at around 24,168, posting gains of nearly 0.3%. The benchmarks had opened on a cautious note and briefly slipped into the red before recovering strongly in afternoon trade.

Among the day’s top performers were Trent, InterGlobe Aviation (IndiGo), select PSU banks and realty stocks, which attracted strong buying interest. Broader markets also remained firm, with mid-cap and small-cap indices advancing alongside the benchmarks.

On the losing side, IT stocks faced pressure after the US Federal Reserve signalled the possibility of further rate hikes. Major technology counters including Infosys, TCS, HCLTech and other IT shares witnessed selling, dragging the Nifty IT index lower by more than 1%.

Market participants said easing crude oil prices continued to provide support to domestic equities. The recent US-Iran agreement helped calm energy market concerns, pushing oil prices lower and improving the outlook for India’s inflation and import bill.

Banking and financial stocks also contributed to the market’s resilience. Investors remained encouraged by progress toward the National Stock Exchange’s proposed IPO and positive developments across several corporate counters.

With foreign and domestic investors continuing to monitor global interest rates, crude oil movements and monsoon progress, traders expect market sentiment to remain stock-specific in the near term. For now, Dalal Street appears to have maintained its momentum, ending another session firmly in the green.

Analysts noted that despite global uncertainties, domestic markets have shown remarkable strength over the past week. Technical indicators suggest that the Nifty remains in a positive trend as long as it holds above key support levels.

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Jio plans 1,650 satellites to expand broadband reach

Reliance Jio is preparing for a major leap into space-based communications, with plans to build and launch a low-Earth orbit (LEO) satellite network comprising around 1,600 to 1,650 satellites over the next two to three years. The proposed constellation is aimed at delivering broadband internet and direct-to-device connectivity services across India.

According to reports, Jio has submitted a proposal to the Indian National Space Promotion and Authorisation Centre (IN-SPACe), which is currently evaluating the project’s technical architecture and configuration. If approved, it would mark one of the most ambitious private-sector space initiatives undertaken by an Indian company.

The satellites are expected to operate at an altitude of about 650 kilometres above Earth. Through this network, Jio aims to provide high-speed broadband access in areas where traditional telecom infrastructure is difficult or expensive to deploy.

The system is also expected to support direct-to-device services, enabling mobile phones to connect directly to satellites in certain situations.

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Chennai hospital unveils advanced heart rhythm technology

Kauvery Hospital in Chennai has launched advanced Pulsed Field Ablation (PFA) technology for the treatment of atrial fibrillation (AF), a common heart rhythm disorder that affects millions of people worldwide. The condition causes an irregular and often rapid heartbeat, increasing the risk of stroke, heart failure and other cardiovascular complications if left untreated.

With this launch, Kauvery Hospital has become one of the first healthcare centres in Tamil Nadu to offer both leading PFA platforms, giving patients access to some of the latest innovations in cardiac care. Hospital officials said the move reflects their commitment to bringing globally recognised treatment options to patients in the State.

Pulsed Field Ablation is considered a major advancement in the treatment of atrial fibrillation. Unlike conventional ablation procedures that use heat (radiofrequency energy) or extreme cold (cryoablation) to destroy abnormal heart tissue, PFA uses carefully controlled electrical pulses. These pulses selectively target the cells responsible for irregular heart rhythms while reducing the risk of damage to nearby structures such as the oesophagus, nerves and blood vessels.

Cardiologists at the hospital said the technology offers several advantages for patients. In addition to being more precise, PFA procedures can often be completed more quickly than traditional methods. Patients may also experience shorter recovery times and potentially fewer complications, making the treatment a promising option for those suffering from persistent heart rhythm disorders.

Experts believe the introduction of PFA technology could significantly improve outcomes for patients with atrial fibrillation, particularly those who have not responded well to medication or other therapies. As awareness of heart rhythm disorders grows, demand for minimally invasive and effective treatment options is also increasing.

The hospital noted that access to advanced technologies within Tamil Nadu will help reduce the need for patients to travel long distances for specialised cardiac procedures. By bringing cutting-edge treatment closer to home, healthcare providers hope to improve both convenience and quality of care.

Kauvery Hospital expects the new technology to benefit a growing number of patients and strengthen Chennai’s position as a leading destination for advanced cardiac treatment in India.

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Sensex down 100 points, Nifty slips below 24,050

Indian equity benchmarks opened on a weak note on Thursday as global market sentiment remained cautious after the US Federal Reserve indicated that interest rates could stay higher for longer later this year.

In early trade, the BSE Sensex declined around 100 points, while the NSE Nifty slipped below the 24,050 mark. Market participants remained watchful of global cues, foreign fund flows and movements in crude oil prices.

Financial stocks offered some support to the broader market. Bajaj Finance, Bajaj Finserv and Asian Paints were among the notable gainers in morning trade, attracting buying interest amid optimism surrounding domestic economic fundamentals.

However, weakness in information technology stocks weighed on sentiment. Tata Consultancy Services (TCS), Tech Mahindra and Infosys featured among the key losers as investors assessed the impact of higher-for-longer US interest rates on technology spending and export-oriented businesses.

Broader markets were relatively resilient, with select mid-cap and small-cap stocks witnessing buying interest despite the weak opening. Analysts said lower crude oil prices continue to support sentiment by easing concerns over inflation and India’s import bill.

Investors are also keeping an eye on developments in global markets after the Federal Reserve maintained a cautious stance on inflation. The central bank’s outlook has raised concerns that borrowing costs could remain elevated for longer than expected.

As trading progresses, market participants will monitor sector-specific trends, institutional flows and overseas cues for further direction. For now, gains in financial stocks are being offset by weakness in IT counters, leaving benchmark indices under pressure in early trade.

Market experts believe domestic fundamentals remain supportive, backed by steady economic growth and improving corporate earnings. However, uncertainty over global monetary policy and geopolitical developments may keep investors cautious in the near term.

Also Read: Yum Brands sells Pizza Hut in $2.7bn deal

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Yum Brands sells Pizza Hut in $2.7bn deal

Pizza Hut is set for a major ownership change after Yum Brands agreed to sell the iconic restaurant chain to private equity firm LongRange Capital in a deal valued at approximately $2.7 billion.

The transaction marks one of the biggest developments in the global restaurant industry this year and signals Yum Brands’ efforts to sharpen its focus on its broader portfolio of fast-food businesses. Despite the sale, Pizza Hut will continue to operate under its well-known brand name and maintain its presence across international markets.

Founded in 1958, Pizza Hut has grown into one of the world’s largest pizza chains, with thousands of outlets spanning dozens of countries. However, like many traditional restaurant brands, it has faced increasing competition from delivery-focused rivals and changing consumer preferences in recent years.

LongRange Capital said it sees significant opportunities to strengthen the business through investments in technology, digital ordering, customer experience and restaurant operations. The private equity firm plans to work closely with management to support the brand’s next phase of growth.

Industry analysts view the acquisition as a vote of confidence in Pizza Hut’s long-term potential despite challenges facing the broader restaurant sector. The brand continues to enjoy strong global recognition and maintains a large customer base across both developed and emerging markets.

The deal also reflects growing investor interest in established consumer brands with opportunities for operational improvement and expansion. Private equity firms have increasingly targeted restaurant chains that can benefit from digital transformation and evolving consumer trends.

Yum Brands, which also owns KFC and Taco Bell, said the transaction aligns with its strategic priorities and will allow the company to focus resources on areas where it sees the greatest growth potential. The company emphasized that Pizza Hut remains a strong and valuable brand with considerable opportunities ahead.

The acquisition is expected to be completed after receiving the necessary regulatory approvals and meeting customary closing conditions.

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